BLAINE, MN—McLean, Va.-based Gladstone Commercial Corp. has purchased an office building here from the CSM Corp. for $14.4 million.

The 92,275-sq.-ft., single-story building is fully leased to PTC Inc., a Needham, Mass.-based company that develops software solutions and delivers related services that help companies design products, manage product information and improve their product development and services processes.

"We are excited about this acquisition, which highlights our focus on high quality assets leased on a long-term basis to strong tenants like PTC Inc.," said Matt Tucker, a director of investment for Gladstone, a REIT.